Apparently conservative campaign consultant Brandon Powers and professional campaign treasurer Lysa Ray were dragged into an FPPC investigation of a hedge fund manager named Chris Hansen, who settled a $50,000 fine with the FPPC due to failure to properly disclose the source of funding behind the ballot measure to force a public vote on the City of Sacramento arena subsidy, according to Allen Wilson over at the OC Political blog.
The bigger story here is that the Sacramento Kings ownership, the Maloof Family, is dead broke – they owe over $200 million dollars and the Kings are only worth, at most, about $300 million. The City of Sacramento made a deal to build them a new arena, which was supposed to be built by union contractors only, but that deal fell apart. Continue reading